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April 28, 2024 |
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| Home > Small Business Lenders by State > Virginia Business Loan Sources > Richmond, Business Loans > Business Loan Center, LLC Richmond Business Loans > Clarion Hotel James Madison Loan | ||||
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SBA Franchise Financing Lender Norfolk Virginia
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Business Loan Center, LLC Provides SBA Loan to Buy Clarion Inn & Suites FranchiseNeed money to purchase a Clarion Inn & Suites franchise? Business Loan Center, LLC has a history of making these loans and they are guaranteed by the SBA. An entrepreneur in Norfolk, Virginia needed money to invest in a Clarion Inn & Suites franchise back in 2001. Business Loan Center, LLC issued an SBA franchise loan. Here are the details on this Virginia small business loan. SBA Loan Borrower CLARION HOTEL JAMES MADISON SBA Loan Lender BUSINESS LOAN CENTER, LLC When this loan was made, this bank was part of the SBA's Certified Lenders Program (CLP). This program was created to provide quick service on loan applications received from lenders who have a successful SBA lending track record and a thorough understanding of SBA policies and procedures. CLP lenders perform a complete analysis of the application and, in return, SBA promises a fast loan decision. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7011 - Hotels and Motels NAICS Code 721110 - Hotels and Motels Loan Approval Date 12/14/2001 Loan Approval Gross Amount $1,330,000 Loan Approval from the SBA Of the total $1,330,000 loan amount, the SBA guaranteed $997,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. This loan was used to buy a Clarion Inn & Suites franchise. At the time of the loan, the company had 54 employees. The SBA loan documents did not indicate that the business planned to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? If you need money to start a small business or need money to grow a business, an SBA loan can be a great source of funding. Many small business owners never get a business loan because they never bother to apply for a business loan. If you take the initiative, you may get a loan, just like this company did when it applied for and received this $1,330,000 loan. Remember, anyone can do it... so why not you? About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Clarion Inns, Hotels, Suites, Resorts Small Business Banks in Richmond, Virginia
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